Are you ready for the 2023 tax-filing season?

The South African Revenue Service (SARS) continues to strive to provide taxpayers with a streamlined, comprehensive and secure service offering that removes the complexity involved in meeting their tax obligations. For taxpayers with relatively simple tax affairs, this is achieved through the auto-assessment process by which SARS relies on the information provided by third-party data providers to assist SARS in supplying taxpayers with an accurate return. It is important for taxpayers to understand their filing obligations so that they can ensure compliance. Meagan Fraser covers the key dates to be aware of for the 2023 tax-filing season and provides the answers to some frequently asked questions.

Key dates to diarise
The following tax-filing season dates apply:

7 July to 23 October 2023 – for non-provisional taxpayers filing online via eFiling or the SARS MobiApp and taxpayers requiring assistance to file at a SARS branch (by appointment only).
7 July to 24 January 2024 – for provisional taxpayers and trusts filing online.
It is important to note that filing a return after the due date may result in SARS imposing administrative non-compliance penalties.

Read full article: https://www.allangray.co.za/latest-insights/personal-investing/are-you-ready-for-the-2023-tax-filing-season/

July 10 2023 By Meagan Fraser - Allan Gray